Firstly, we display a brief summary about Imam Muhammad ibn Hassan Shibani (750-805 AD, 131-189 AH) to understand the historical environment in which he produced the concepts of earning and spending. He was born between Kufa and Basra in 131 AH after his father came from the east of Damascus. He has evolved in Kufa, which was an environment of science and scientist. He was a genius and a talented person from his young age. At the age of fourteen years, he joined in a scientific circle of Imam Abu Hanifa (699-767 AD, 80-150 AH). He completed the Fiqh conferences by Judge Abu Yusuf (731-798 AD, 113-182 AH).
During his era, he acquired the religious knowledge from many reputed imams of Shariah science in Kufa, Mecca, Medina and Damascus. He was an early scholar (Faqih) of the Iraq, and a young Imam in the Quran, the Sunnah, the Fiqh, the Arabic, the Algebra science and others. He was the teacher of the imams such as Imam Shafii (767-820 AD, 150-204 AH).
Also, he was a judge of Arraqa in the period of Abbasid Caliph Harun Alrrashid (763-809 AD, 146-193 AH). He had realized the codification of Islamic jurisprudence and classified this latter using a new approach. He produced the statements in discreetly and clarity manner and addressed the most complicated subjects in the Shariah that mattered to detect the legislation secrets (Nadawi 1994). Shibani has dealt with the financial and economic issues and mainly in unprecedented depth the topics related to earning, saving and spending. He is the pioneer that analyzed the Islamic economics issues with a new approach (Dounia 1998, Eldasoqi 1987). Shibani was among those precursors who addressed the legal objectives of the Shariah (Shariah Maqasid) early before the work of Jouini (1028-1085 AD, 419-478 AH).
References/English
Bertsekas, DP. (1999). Nonlinear Programming. Second edition. Cambridge, MA: Athena Scientific.
Askari, H., Iqbal, Z. and Mirakhor, A. (2015). Introduction to Islamic Economics: Theory and Application. Publisher John Wiley & Sons.
24 Asutay, M. (2007). A Political Economy Approach to Islamic Economics: Systemic
Understanding for an Alternative Economic System. Kyoto Bulletin of Islamic Area Studies 1-2, 3-18.
Bernheim, BD., and Rangel, A. (2009). Beyond Revealed Preference: Choice-Theoretic Foundations for Behavioral Welfare Economics. The Quarterly Journal of Economics 124 (1), 51-104.doi: 10.1162/qjec.2009.124.1.51
Bernheim, BD., and Rangel, A. (2007). Toward choice-theoretic foundations for behavioral welfare economics. American Economic Review Papers and Proceedings 97(2), 464-470.
Bertsekas, DP. (1982). Constrained Optimization and Lagrange Multiplier Methods. First edition. Academic Press.
Biagini, S. and Frittelli, M. (2008). A Unified Framework for Utility Maximization Problems:
an Orlicz Space Approach. Annals of Applied Probability 18, 929-966.
Bjorvatn, K. and Cappelen, AW. (2006). Redistribution and the nature of altruism: should welfare programs be centralized or decentralized? Economics of Governance 7:133–142.
Bjorvatn, K. and Cappelen, AW. (2003). Inequality, segregation, and redistribution. Journal of Public Economics 87, 1657-1679.
Campbell, JY. and Cochrane, JH. (1999). By Force of Habit: A Consumption-Based Explanation of Aggregate Stock Market Behavior. Journal of Political Economy 107, 205-251.
Chapra, MU. (2014). Morality and Justice in Islamic Economics and Finance. Studies in Islamic Finance, Accounting and Governance series. Edward Elgar Publishing.
http://www.elgaronline.com/view/9781783475711.xml#bookToc
Chapra, MU. (2000). The Future of Economics: An Islamic Perspective. The Islamic Foundation UK, 305-308.
Carroll, C. (2009). Precautionary saving and the marginal propensity to consume out of permanent income. Journal of Monetary Economics 56, 780-790.
Elgin, C., Goksel, T., Gurdal, MY. and Orman C. (2013). Religion, income inequality, and the size of the government. Economic Modelling 30, 225–234.
Gintis, H. (1998). The Individual in Economic Theory: A research Agenda. Mimeo.
Department of Economics, University of Massachusetts, Amherst.
Harsanyi, J. (1955). Cardinal welfare, individualistic ethics, and interpersonal comparisons of utility. Journal of Political Economy 63, 309–321.
Hasan, Zubair (2015). Economics with Islamic Orientation. Oxford University Press (China) Limited.
Hasan, Zubair (2005). Treatment of Consumption in Islamic Economics: An Appraisal.
JKAU: Islamic Economics 18 (2), 29-46.
Itani, Talal (2012). This Quran could not have been produced by anyone other than God: The Quran. Published by ClearQuran, Dallas and Beirut. www.ClearQuran.com
Iqbal, M. (1985). Zakah, Moderation, and Aggregate Consumption in an Islamic Economy.
Journal of Research in Islamic Economics 3(1), 45-60.
25 Kahf, M. (1981). A Contribution to the Theory of Consumer Behavior in an Islamic Society.
In Khurshid Ahmad: Studies in Islamic Economics. ICRIE, Jeddah and The Islamic Foundation, Leicester.
Kalecki, M. (1942). A Theory of Profits. The Economic Journal 52 (206/207), 258-267.
Khan, MF. (2013). Theorizing Islamic Economics: Search for a Framework for Islamic Economic Analysis. JKAU: Islamic Economics 26 (1), 209-242.
Khan, MF. (1992). Theory of Consumer Behavior in Islamic Perspective. In Tahir et al.:
Readings in Microeconomics in Islamic Perspective, Longman Malaysia, 69-80.
Khan, MF. (1984). Macro Consumption Function in an Islamic Framework. Journal of Research in Islamic Economics 1(2), 3-25.
Kimball, M. (1990). Precautionary Saving in the Small and in the Large. Econometrica 58, 58-73.
Kimball, M. and Weil, P. (2009). Precautionary saving and consumption smoothing across time and possibilities. Journal of Money, Credit, and Banking 41, 245-284.
Kolm, SCh. and Ythier, JM. (2006). Handbook of the Economics of Giving, Altruism and Reciprocity: Foundations (Volume 1) and Applications (Volume2). Publisher Elsevier.
Krasnosel'skii, MA. and Rutickii, YB. (1961). Convex Functions and Orlicz Spaces.
Noordhoff, Groningen, The Netherlands.
Kramkov, D. and Scachermayer, W. (1997). The Asymptotic Elasticity of Utility Functions and Optimal Investment in Incomplete Markets. Annals of Applied Probability 9, 904-950.
Kuziemko, I., Norton, MI., Saez, E., and Stantcheva, S. (2015). How Elastic Are Preferences for Redistribution? Evidence from Randomized Survey Experiments. American Economic Review 105(4), 1478–1508. http://dx.doi.org/10.1257/aer.20130360
Luttmer, EFP. (2005). Neighbors as Negatives: Relative Earnings and Well-Being. Quarterly Journal of Economics 102(3), 963-1002.
McCleary, RM. and Barro, RJ. (2006). Religion and Economy. Journal of Economic Perspectives 20(2), 49–72.
Metzler, LA. (1951). Wealth, Saving and the Rate of Interest. Journal of Political Economy 59(2), 93-116.
Mustafa, OM. (2011). Economic Consumption Model Revisited: Infaq Based on Shibani's Levels of AlKassb. International Journal of Economics, Management & Accounting, Supplementary Issue 19, 115-132.
Ng, Sh. and Lee, AY. (2015). Handbook of Culture and Consumer Behavior (Frontiers in Culture and Psychology). Editors, 1st Ed. Oxford University Press.
Nocetti, D. and Smith, WT. (2011). Price Uncertainty, Saving, and Welfare. Journal of Economic Dynamics and Control 35, 1139-1149.
North, Douglass C. (1990). Institutions, Institutional Change, and Economic Performance.
Cambridge University Press.
26 Nixon, MG. (2007). Satisfaction for Whom? Freedom for What? Theology and the Economic
Theory of the Consumer. Journal of Business Ethics 70, 39-60.
Parada-Contzen, M. and Parada-Daza JR. (2013). Utility, ethics and behavior. Journal of Academic and Business Ethics 7, 1-27.
Pirosca, G. (2011). Economic Crises and the Complexity of Animal Spirits Modeling.
Theoretical and Applied Economics 18 (2), 153-170.
Rao, MM. and Ren, ZD. (1991). Theory of Orlicz spaces, volume 146 of Pure and Applied Mathematics. Inc., Marcel Dekker.
Romer, D. (2006). Advanced macroeconomics. 3rd Ed. McGraw-Hill. Chapter 7.
Saez, E. and S. Stantcheva (2016). Generalized Social Marginal Welfare Weights for Optimal Tax Theory. American Economic Review 106(1), 24–45.
Sauer, JB. (2003). Christian Faith, Economy, and Economics: what Do Christian Ethics Contribute to Understanding Economies? Faith & Economics 42, 17-25.
Schneider, H., J. Krieger and A. Bayraktar (2011). The Impact of Intrinsic Religiosity on Consumers’ Ethical Beliefs: Does it depend on the Type of Religion? A Comparison of Christian and Moslem Consumers in Germany and Turkey. Journal of Business Ethics 102(2), 319-332.
Sen, A. (1987). On Ethics and Economics. New Jersey, Wiley-Blackwell Publishing, First edition.
Siddiqi, MN. (1992). Islamic Consumer Behavior. In Tahir et al.: Readings in Microeconomics in Islamic Perspective, Longman Malaysia, 49-60.
Stutzer, A. (2004). The Role of income aspirations in individual happiness. Journal of Economic Behavior and Organization 54(1), 89-110.
Zaman, A. (1992). Towards Foundations for an Islamic Theory of Consumer Behavior. In Tahir et al.: Readings in Microeconomics: An Islamic Perspective. Longman Malaysia, Kuala Lumpur.
References/Arabic
Alkhadmi, Nur al-Din (2001). Science of Shariah Purposes. Publisher Obeikan Library, First edition, Riyadh.
Almassri, Rafiq Younis (2001). The Economic Thought of Jouini the Imam of the Two Holy Masjids (419-478 AH, 1028-1085 AD). Publisher Dar Alfikr Almoassir, Beirut, and Dar Alfikr, First edition, Damascus.
http://ia902305.us.archive.org/24/items/Maqased_Sharayh/Maqased_Sharayh.pdf
Ben Jilali, B. and Azzamil, Y. (1992). Measuring the Consumption Function in an Islamic Framework. Journal of Islamic Economics Research, 2(2), 37-66.
Ben Jilali, B. and Taher, FB. (1989). Towards a Theory of Muslim Consumer Behavior.
Journal of Social Sciences, 17(1), xx-xx.
Dounia, Shawqi Ahmad (1998). Series of Scholars on the Islamic Economics. Volume 1-3, Publisher Kamel Center of Islamic Economics.
27 Eldasoqi, Mohammed (1987). Mohammed bin Hassan Shibani and its impact on Islamic
jurisprudence. Publisher House of Culture, Doha.
Ghazali, Abu Hamed (1058-1111 AD). The Revival of the Religion Science. By I. Rifai and reviewed by AS. Shahin (1988), 1st Ed.: Book of the Earnings and Livelihood, and Book Standards Behaviors of Living and Ethics of the Prophethood. Publisher of Alahram Center for Translation and Publishing, Cairo.
https://docs.google.com/file/d/0B8E9Z57shYOkYnlTdV85eU53TzQ/edit?pli=1
Khassawneh, Ahmed Mahmoud (2010). The Economic Thought of Imam Mohammed bin Hassan Shibani. Publisher Dar Alqalam.
Mahboub, Abdul Hamid (1991). Towards a Theory of Muslim Consumer Behavior and Economic Welfare. Journal of Islamic Economics Research, International Association for Islamic Economics, Leicester, volume 1(2), 12-24.
Montasser, Amin (1989). Essay to Model the Consumer Behavior Theory in Islamic Economics: the Ordinal Standard. XIV International Congress of Statistics, Scientific Calculations and Socio-Demographic Research, Ain Shams University, Cairo.
Nadawi, Ahmed (1994). Imam Muhammad Ibn al-Hassan Shibani Genius of Islamic Jurisprudence. Publisher Dar Alqalam, Damascus, first edition, Series of Muslim Scholars 47. https://ia601608.us.archive.org/4/items/WAQ57666/57666.pdf
Raissouni, Ahmed (1992). Theory of Purposes with Imam Shatiby. Publisher Dar Global of the Islamic Book, Second edition.
Shibani, Muhammad Ibn Al-Hassan (750-805). Book of the Earning. Explained by Mohammed Sarkhasi. Verified by Abdul Fattah Abu Ghuda, first edition (1997), publisher Dar Albachaer Alislamia, Beirut and the Office of the Islamic publications, Aleppo. https://ia802604.us.archive.org/33/items/al-Kasb-shebani/kasb.pdf
www.islamicbook.ws/asol%5Chanafi/alksb.pdf
Shatiby, Ibrahim (1320-1388). The Approvals in Bases of the Shariah. Publisher Dar Hadith (2005), Cairo, Dar Scientific Books, Volume I, Part II.
Zarqa, MA. (1992). A Partial Relationship in a Muslim's Utility Function. In Tahir et al.:
Readings in Microeconomics in Islamic Perspective. Longman Malaysia, Kuala Lumpur.
Zarqa, MA. (1980). An Islamic Formulation of Aspects of the Social Welfare Function and Consumer Behavior Theory. First World Conference on Islamic Economics Publications, the International Center for Research on Islamic Economics, 155-197.